The median weekly rent in Wellington decreased to $600 in June 2025, marking a $50 drop compared to June 2024, Trade Me’s latest Rental Price Index for June has revealed.
This decline represents the largest annual reduction in median weekly rent nationwide.
“Wellington hasn’t seen its median weekly rent this low since November 2022, showing just how much the rental market in the region has changed in 2025,” Trade Me Property spokesperson Casey Wylde said.
“This is being driven by your simple supply-demand equation pushing prices down – Wellington saw a 34% annual increase in rental stock come to market in June, coupled with a 16% annual drop in demand.”
The national median weekly rent in June stood at $620, down from $650 in May of the previous year. This figure has been gradually declining since January, when the median rent was $640.
Rent decreases in Wellington were observed across all property sizes. Large homes with five or more bedrooms fell by 9.1% to $900.
Three to four-bedroom houses dropped 6.7% to $700, and smaller properties with one to two bedrooms declined 8.3% to $550.
Urban property types also experienced declines. Apartment rents in the region decreased by 9.3% to $535, and townhouse rents fell 4.4% to $650.
Meanwhile, unit rents held steady at $520.